HelpSystems Completes Tender Offer to Acquire GlobalSCAPE to Grow Data Security Portfolio
August 28 2020 - 7:45AM
HelpSystems today announced the successful completion of its cash
tender offer for all of the outstanding shares of common stock of
managed file transfer solutions provider GlobalSCAPE, Inc. (NYSE
American: GSB) at a purchase price of $9.50 per share in cash.
HelpSystems’ tender offer expired at one minute after 11:59 p.m.
New York City time, on August 27, 2020.
GlobalSCAPE is a leader in the secure managed file
transfer software industry, helping organizations secure movement,
automation, and integration of data no matter where it resides.
This acquisition augments HelpSystems’ data security business that
includes data loss prevention and data classification software.
“We are excited to bring the secure file transfer
solutions and expertise of GlobalSCAPE together with our robust
suite of data loss protection and data classification technology,”
said Kate Bolseth, CEO, HelpSystems.
GlobalSCAPE joins HelpSystems’ leading managed file
transfer solution, GoAnywhere MFT, Clearswift data loss prevention,
and data classification solutions from Titus and Boldon James.
Together these solutions deliver unparalleled cybersecurity defense
options to organizations worldwide.
The depositary for the tender offer has advised
HelpSystems that, as of the expiration of the tender offer, a total
of approximately 14,899,635 shares of common stock of GlobalSCAPE
were validly tendered and not withdrawn from the tender offer,
representing approximately 78.81 percent of the outstanding shares
of common stock of GlobalSCAPE on a fully diluted basis. All
validly tendered shares have been accepted for payment in
accordance with the terms of the tender offer, and HelpSystems
expects to promptly pay for such shares.
HelpSystems expects to complete the acquisition of
GlobalSCAPE today through a short-form merger of HelpSystems’
wholly-owned subsidiary with and into GlobalSCAPE in which all
shares not tendered into the offer will be canceled and converted
into the right to receive cash equal to a purchase price of $9.50
per share, subject to any required withholding of taxes, net to the
seller in cash without interest. Upon completion of the merger,
GlobalSCAPE will become a wholly-owned subsidiary of HelpSystems
and the common stock of GlobalSCAPE will cease to be traded on NYSE
American. Post-closing, GlobalSCAPE will focus on providing the
most comprehensive collection of trusted security and automation
solutions to customers worldwide.
About HelpSystemsHelpSystems is a
software company focused on helping exceptional organizations Build
a Better IT™. Our cybersecurity and automation solutions simplify
critical IT processes to give our customers peace of mind. We know
IT transformation is a journey, not a destination. Let’s move
forward. Learn more at www.helpsystems.com.
About GlobalSCAPEGlobalSCAPE is a
pioneer in securing and automating the movement and integration of
data seamlessly in, around and outside organizations, between
people and places, in and out of the cloud. Founded in 1996,
GlobalSCAPE’s data exchange and integration software and cloud
services are trusted by thousands of customers worldwide, including
global enterprises, governments, and small and medium
enterprises.
Headquartered in San Antonio, TX, GlobalSCAPE has
consistently been named a top workplace by Computerworld, the San
Antonio Business Journal, Texas Monthly, and the San Antonio
Express-News, among others.
Media Contacts
Mike Devine Vice President, Marketing
mike.devine@helpsystems.com
Mark HoodChief Operating
OfficerGlobalSCAPEmhood@globalscape.com
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